"My Dear Extended Family,
"Please keep focused on the fact that the gold market of the 70s was simply a dress rehearsal. What is taking place right now is the real thing.
"The supposed "Curse of 13" is behind you in the break from $1900 to close to $1500.
"The reaction was stopped because the need and use for QE to infinity is real and present in time. There is no other tool in the lender of last resort to the entire Western World’s toolbox other than QE which can be applied to create the degree of liquidity required to prevent a global implosion. No other tool can create infinite liquidity in a flash. There is no speculating on what might happen in the future. It has happened now.
"Few are looking at dollar utilization falling in international contracting and settlement. That is a key element of 2012. The US dollar has enjoyed demand from settlement and contracting which it is now losing daily. Gold is gaining utilization as a competitive currency..."